Business Law

The Business Law Track

• Overview

The University of Maryland School of Law Business Law Program is sponsoring a guided path of study for students who are interested in business law. The Business Law Track will expose students to core substantive courses in business law and socialize them to the business community and business law practice through experiences such as Business Law Boot Camp, Business 101 and one-on-one mentoring with faculty and practitioners involved with the Business Law Program. The Business Law Program will work closely with students pursuing the Business Law Track to develop and market their transactional and counseling skills. Upon successfully completing the Business Law Track, students will receive an individualized Letter of Completion from the Program's Co-Directors to accompany their transcripts, which will highlight the student's unique transactional skill set and personal attributes that make the student well-suited for a business law related career.

• Participating in the Business Law Track

Students are not required to pre-commit to the Business Law Track. Rather, students who are interested in pursuing the Business Law Track should enroll in Business 101 and participate in the Business Law Boot Camp as soon as practicable. These two experiences inform and enhance the other components of the Business Law Track. Any student who plans to participate in the Business Law Track should submit an expression of interest form by November 1 in the fall or April 1 in the spring. The expression of interest allows the Business Law Program to work with those students and help counsel them in the election of courses, career planning, etc. Students will formally elect the Business Law Track upon completing the requirements and requesting a Letter of Completion.

• Track Requirements

Students must satisfy the following to complete the Business Law Track successfully and receive a Letter of Completion:

• The Core Course Requirement with an average GPA in these courses of at least 3.25
• The Additional Coursework Requirement
• Graded Core Courses must be taken for a grade and cannot be taken on a pass/fail basis. At present, this requirement does not apply to Competency Courses, but the Co-Directors have a strong preference that at least one class in each competency area (i.e., International and Comparative) be taken for a grade.
• Core Course Requirement

The Business Law Program requires the following course work.

• Business Associations (3 or 4)
• Income Taxation (3 or 4)
• Corporate Finance (3 or 4)
• Business Planning or Transactional Skills Course (2 or 3)
  • May be satisfied with “Business Planning” (3), “Business Law in Practice” (2), or “Contract Drafting” (3)
• Business 101 (2)
  • May be waived for students who have undergraduate majors or minors in Business, Accounting, or Finance
• Business Law Boot Camp (1)

Total credits: minimum 14, unless Business 101 has been properly waived
GPA Requirement: must obtain an average GPA of at least 3.25 in Core Courses

• Additional Coursework Requirement

In addition to the Core Courses, the Business Law Program believes that students focused on business law should be exposed to courses in at least two areas of competency that enhance a business lawyer's skill set—International and Commercial Law. Students must select at least one course from each of these areas, which may also satisfy a student's clinical and Cardin requirement.

INTERNATIONAL	COMMERCIAL
International Law (3) International and Comparative Law Clinic (11) International Intellectual Property (2 or 3) International Business Transactions (2 or 3) International Labor Law (3) International Trade Law (2 or 3) Comparative Commercial Law (3)	Secured Transactions (2 or 3) Sales and Sales Financing (3) Secured Transactions and Payment Systems (3 or 4) Comparative Commercial Law (3) Payment Systems (2) Bankruptcy and Creditors' Rights (3) Corporate Reorganization Seminar (2 or 3) Consumer Protection Clinic (5 or 7)

Total credits: minimum 4

• Business Law Boot Camp

Students choosing to pursue the Business Law Track will be required to enroll in Business Law Boot Camp at the beginning of either their second or third year of law school. This course introduces students to the practice of business law and what it means to be a business or commercial law lawyer. Students will learn about the basics of transactional work and some aspects of commercial litigation, as well as key business and financial concepts that business law students need in their skill set. The substantive sessions will be co-taught by faculty and practitioners and business executives.

• Recommended Sequencing

It is highly recommended that students interested in the Business Law Program sequence their course work according to the following schedule.

FALL 1L	SPRING 1L Business 101 option
FALL 2L Boot Camp Business Associations Income Taxation	SPRING 2L Business 101 option
FALL 3L Corporate Finance	SPRING 3L Business Planning, or Transactional Skills

• Recommended Elective Courses and Clinics

The Business Law Program recommends these courses and clinics for students who want to expand their course work beyond the Core Course and Additional Coursework Requirements.

• Mergers & Acquisitions
• Securities Regulation
• Futures, Options and Derivatives
• Corporate Tax
• Insurance Law
• Business Crimes
• Partnership Tax
• Corporate Ethics
• Corporate Governance
• Low Income Taxpayer Clinic
• Community Development Clinic
• Intellectual Property Aspects of Business Law
• Negotiations
• Community Justice Clinic
• Antitrust Law Seminar/Course
• Comparative Business Entities
• Writing in Law Practice: Negotiating and Drafting Business Agreements
• Corporate Ethics Seminar/Course
• Employee Benefits Law (ERISA)
• Franchise Law
• Estate & Gift Taxation
• Government Contracts
• Law & Economics
• Venture Capital Law Seminar/Course
• Tax Controversies and Tax Fraud
• Securities Litigation and Enforcement
• Real Estate Transactions
• Real Estate Negotiation and Drafting
• Not for Profit Corporations
• Expression of Interest Form
• FAQ
• Q: Do I have to declare myself as a candidate or do something affirmative to pursue the Business Law Track?
  
  A: Once you decide to pursue the Business Law Track, you should submit the non-binding expression of interest form. This identifies you to Professors Harner and Rhee as students who are interested in business law and gives them the opportunity to work with you and get to know you for purposes of providing the Letter of Completion upon your graduation. The expression of interest is non-binding and you can opt not to pursue the Track at any time.
• Q: Do you need a business or finance background to participate in the Business Law Track?
  
  A: No. You simply need an interest in business law and a desire to learn basic business and finance principles that will enrich your understanding of the legal concepts you will study in the courses included in the Business Law Track. The Business 101 course is designed to provide this understanding of basic business and finance principles.
• Q: Can I receive a waiver of the Business 101 course if I have a business or finance background?
  
  A: Yes. The Business 101 course is designed to provide a basic understanding of key business and finance principles. Accordingly, students who already possess this general understand can obtain a waiver of the Business 101 requirement upon approval from Professor Rhee.
• Q: Do Business Law Track students get a preference for enrollment in the Core Courses?
  
  A: Professors Harner and Rhee will work with students and the Registrar's office to ensure that students are able to take the required courses prior to graduation.
• Q: What is the difference between the 4-credit and 3-credit Business Associations course?
  
  A: Although the content of each section of Business Associations, as with any course, is determined by the professor teaching the section, the primary difference is the extent of coverage given to the various components of business law. The 4-credit course covers agency law, partnership and limited liability company law, corporation law and securities law. The 3-credit course will not cover all of these areas or necessarily cover them in the same detail.
• Q: Do I have to take Corporate Finance if I took that course in Business School or during my undergraduate studies?
  
  A: Yes. The Corporate Finance course offered in connection with the Business Law Track is different in scope and focus than courses of a similar name offered outside of the law school. Although the Corporate Finance course covers some basic finance and valuation principles, the majority of the course focuses on the legal implications of corporate finance principles and how the law instructs decisions regarding a company's capital structure and the rights of the parties participating in that capital structure.
• Q. Can I substitute a different course for one of the non-core course requirements?
  
  A. Maybe. Students seeking recognition for the non-core course requirement with a substitute course must receive written approval for the substitution from either Professor Harner or Professor Rhee.
• Q: Will I receive a certificate upon completing the Business Law Track?
  
  A: No. The Business Law Track is designed as a guided curriculum that will help students develop the skill set necessary to work or practice law in the business community. Students pursuing the Business Law Track will work closely with Professors Harner and Rhee during their studies and upon completion of the required courses, Professors Harner and Rhee will provide the students with a Letter of Completion that details the individual student's development and performance in the Business Law Track.
• Q: How can I identify myself as a student pursuing the Business Law Track to prospective employers?
  
  A: Prior to completing the Business Law Track, students can identify themselves as a "Business Law Concentration Candidate." After completing the Business Law Track and receiving their Letter of Completion, students can list "Business Law Concentration" on their resumes. In addition, students can provide copies of their Letter of Completion to prospective employers.
• Q: Do I have to pursue the Business Law Track in order to take courses identified as part of the Track?
  
  A: No. All students are welcome to take the courses identified as part of the Business Law Track, including Business 101. We also welcome all students to attend the Business Law Boot Camp, provided that there is available space.

More On Business Law Program Academics

• Business Law Track
• Faculty & Staff
• Curriculum

Related Links

• The Journal of Business and Technology Law
• Conference Papers
• The Business Law Society
• Business Law Bulletin
• Business Law Program Annual Report

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